American Century Companies Inc. Cuts Holdings in NVIDIA Co. (NASDAQ:NVDA)

American Century Companies Inc. lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 70,914,729 shares of the computer hardware maker’s stock after selling 2,369,816 shares during the period. NVIDIA comprises 5.5% of American Century Companies Inc.’s holdings, making the stock its largest position. American Century Companies Inc.’s holdings in NVIDIA were worth $9,523,139,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NVDA. Tacita Capital Inc acquired a new stake in shares of NVIDIA in the 4th quarter worth about $28,000. Legend Financial Advisors Inc. bought a new stake in NVIDIA during the 4th quarter worth approximately $34,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA in the fourth quarter worth approximately $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA in the fourth quarter valued at approximately $40,000. Finally, Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 4.3 %

Shares of NVDA opened at $111.01 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1-year low of $81.25 and a 1-year high of $195.95. The company has a market capitalization of $2.71 trillion, a P/E ratio of 43.69, a P/E/G ratio of 1.76 and a beta of 1.96. The firm’s 50 day simple moving average is $113.21 and its 200 day simple moving average is $129.01.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Sell-side analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now owns 17,279 shares of the company’s stock, valued at $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NVDA shares. Barclays dropped their price objective on NVIDIA from $175.00 to $155.00 and set an “overweight” rating on the stock in a research note on Tuesday. Morgan Stanley decreased their price objective on shares of NVIDIA from $162.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday. KeyCorp set a $190.00 target price on NVIDIA in a report on Wednesday, March 19th. Bank of America dropped their price target on NVIDIA from $200.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Finally, Hsbc Global Res downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Six research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.96.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.